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Managing email address policies in Exchange Server 2019 involves creating, modifying, and applying policies that define the rules for generating email addresses for recipients within your Exchange organization. Here's a step-by-step guide to managing these policies:

1. Access the Exchange Admin Center (EAC): Sign in to the EAC to begin the process of managing your email address policies.
2. Navigate to Mail Flow: Once logged in, go to the 'Mail flow' section and then to 'Email address policies'.
3. Create a New Policy: Click the '+' icon to add a new email address policy. You'll need to provide a unique name for the policy and configure the email address format. This includes setting up the primary SMTP email address and any additional proxy addresses.
4. Specify Recipient Filters: Define which recipients the policy applies to by setting up recipient filters. This ensures that only the intended users receive the email addresses generated by the policy.
5. Set the Priority: If you have multiple policies, you'll need to specify the order in which they are applied. This is important if a recipient qualifies for more than one policy.
6. Apply the Policy: After creating the policy, you must apply it to the recipients. This can be done immediately or scheduled for a later time.
7. Modify Policies as Needed: Existing policies can be edited or removed as your organization's needs change. This allows for flexibility and adaptability in managing recipient email addresses.

Custom SMTP email address templates:

If you don’t want to use default SMTP email address templates, you can specify a custom SMTP email address template as well. When creating a custom SMTP email address template, you can use the variables listed in the following table to specify values for the local part of the email address. 

Variable	Value
%d	Display Name
%g	Given Name (First Name)
%i	Middle initial
%m	Exchange Alias
%rxy	Replace all occurrences of X with Y
%rxx	Remove all occurrences of X
%s	Surname (last name)
%ng	The first n letters of the first name. For example, %2g uses the first two letters of the first name.
%ns	The first n letters of the last name. For example, %2s uses the first two letters of the last name.

For detailed instructions and information on the settings available for each step, you can watch my YouTube video below.

Download the PowerShell cmdlets used on the video from here.